Intech Investment Management LLC lifted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 58.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,766 shares of the construction company’s stock after acquiring an additional 2,116 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of Cavco Industries worth $3,406,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Cavco Industries during the 3rd quarter worth $58,000. CIBC Private Wealth Group LLC grew its stake in shares of Cavco Industries by 72.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after acquiring an additional 50 shares during the period. Osaic Holdings Inc. grew its stake in shares of Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after acquiring an additional 65 shares during the period. Clearstead Advisors LLC grew its stake in shares of Cavco Industries by 186.0% during the 4th quarter. Clearstead Advisors LLC now owns 123 shares of the construction company’s stock worth $73,000 after acquiring an additional 80 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Cavco Industries by 27.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after acquiring an additional 40 shares during the period. Institutional investors own 95.56% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CVCO shares. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $550.00.
Cavco Industries Trading Down 0.3%
Shares of CVCO opened at $534.89 on Tuesday. The company has a market cap of $4.11 billion, a PE ratio of 22.31 and a beta of 1.31. The stock has a 50-day moving average price of $499.76 and a 200-day moving average price of $554.67. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01.
Cavco Industries (NASDAQ:CVCO – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The company had revenue of $550.13 million for the quarter, compared to analysts’ expectations of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. As a group, analysts predict that Cavco Industries, Inc. will post 25 earnings per share for the current year.
Insider Transactions at Cavco Industries
In related news, EVP Allison Aden sold 129 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $455.76, for a total transaction of $58,793.04. Following the transaction, the executive vice president directly owned 8,806 shares of the company’s stock, valued at approximately $4,013,422.56. This trade represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer directly owned 1,105 shares in the company, valued at approximately $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 360 shares of company stock worth $182,127. 1.60% of the stock is currently owned by insiders.
Cavco Industries Profile
Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.
Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.
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